3i India to fund Rs 500 Cr to KMC Infratech for projects

Hyderabad: 3i India Infrastructure Fund, has invested Rs 500 crore as equity in KMC Infratech Ltd (KMCIL).

With this investment and the current book size and projected revenues,they would have the capability to bid for projects with a size of Rs 3,000 crore and above.

This is the second major investment for the company.

The company currently has a BOT order book of 10 projects worth Rs 11,000 crore, which includes two tollways - a Rs 3,000 crore Gurgaon-Jaipur Pink City stretch and Nellore-Chilkaluripeta part of Rs 2,500 crore.

All the projects are to be completed within 30 to 36 months.

The company is set to close this year with revenues of about Rs 1,250 crore.

They are currently holding a portfolio of 5,000 lane km across India. With additional fund infusion through one of the better known Infra Funds, they would be able to bid for more road projects. It is estimated that about 185 road projects will come up for bidding process under the NHAI.